Advertising, Marketing Communications and Consulting Industries First to See Benefits of New Solution
A new ERP solution dedicated to Agency, MarComm and Consultant use is the focus of international ERP provider Maconomy. The result of a stringent growth strategy that demands 100% industry-specific dedication, the Maconomy X Agency Solution improves time-based projects such as those of advertising, marketing communications and consulting industries, to improve project workflow, team collaboration and management. According to Maconomy US Senior Strategic Account Manager, Jeff Mills, the ERP market is now characterized by increasing demands for industry expertise. Competitors on the ERP-market are struggling to keep up.
According to product information, with Maconomy X, "agencies worldwide are enabled to optimize finance management, job costing, job management, business intelligence, and resource planning in one integrated ERP solution. The solution provides a fully integrated set of financial ledgers and job management functionality supporting the entire job life cycle..."
Industry Focus on Advertising, Marketing Communications and Consulting
Maconomy X, the latest in Maconomy's portfolio of industry-specific ERP solutions, is designed and developed specifically for companies whose revenue generation is based on time-consumption. A number of analyses show that employees in such companies only register and invoice half of their work hours. This ERP product is what Maconomy built as the solution that enables Agencies to increase profitability while delivering creativity and communication.
Return on Investment (ROI) Study
An independent study from Nucleus Research assessed that ninety-five percent of Maconomy customers achieve a positive ROI from their investment in the Maconomy Agency Solution. "We are also impressed with the rapid deployment times a median of 6 months - and by the scalability and flexibility of the solution," says Rebecca Wetteman, VP Nucleus Research.
Resource Utilization and Cost Control
As another industry-specific feature, Maconomy built the X Solution for early detection of overcapacity or shortages of resources so that project managers may efficiently manage, monitor and follow up on external purchases, subcontractors and free agents. The Maconomy X Agency Solution also provides a complete overview of the day-to-day progress of jobs with regard to performance by department, job, client, or employee by integrating accounting and all aspects of job management in one solution.
Overview of Financial Performance and Profitability
Maconomy X offers best practice revenue recognition, WIP evaluations and intercompany handling for automating and producing real-time, month-end results. Online submission and approval of time and expense speed up the invoice and payment process and improve cash flow.
Implementation and Upgrade Costs
The Maconomy X Agency Solution is low in cost to implement and easy for users to learn because of its industry specific best practice knowledge built in. It also has preconfigured standard software to facilitate upgrades.
"A time-consuming implementation process too often means that a company's IT investment looses value," says Mills. "A successful solution, on the other hand, must generate operational benefits as soon as possible. And solutions need to be industry-specific, because then they are much faster to implement. Maconomy X fully meets these demands."
"To succeed you have to acknowledge and meet the ERP market's two major trends. Solutions need to focus sharply on the demands of a specific industry and its users. And the implementation of solutions must be highly adaptable to the ever-changing conditions and challenges of the modern corporation," concluded Mills.
Maconomy X builds on more than 17 years of Research and Development and is based on valuable customer feedback.